Why should you raise your prices?

[capri2794]

About 6 months ago, I started a full-time job as an engineer. I wanted to pursue both my profession and freelancing side by side and got advice from the forum. Resultantly, I increased the time for my order deliveries.

3 months into the job and I was staying awake late, risking my health and working hard to complete $5 orders. I searched for ways to minimize the work load while earning extra $$ from freelancing but raising the price was not an option as it meant lesser orders (lesser work) but also lesser money.

Looking upon my repeat buyers, I found out that none of them paid me $5 for my work it was always more than that. Which meant that if I were to raise my prices, my repeat buyers will stay.

I gave raising the prices a chance and now, for a few months, even though the number of clients I get has decreased immensely, I get higher budget orders which make my monthly earnings almost the same as before. Which means that for less than half the work, I get paid just like before.

Moral of the story:

Raise your prices depending to what you think your work is worth and those who find value in it will buy from you. You will also, as a bonus, get rid of the clients who want the world for $5.

[eoinfinnegan]

So glad it has worked out for you!
So many people talk about working hard, long hours, give everything to Fiverr (or whatever else) and then you will be successful. The reality is that working SMARTER is the real key to success. Those long hours are unsustainable, the effect on your health can take a real toll on both your ability and motivation to continue with that work.
Establishing your boundaries, knowing your value, building and working sustainably - those are the things which will really lead to success.

[emeraldawnn]

After 7.5 years on Fiverr, I finally raised my prices this year myself - and now I find my time for myself and my family. Previously, I was working non-stop and practically killing myself. I wasn’t able to get to the gym like I wanted (or needed). My son knew I was always working on the weekend. He saw me mostly in the mornings and sometimes in the afternoon. I was constantly working.

I knew I was worth more. So, I raised my prices on several of my gigs. What I’ve seen is that several repeat clients are coming back and new clients are still ordering. This is all fine and dandy. I am making roughly the same as I was before I raised my prices for fraction of the time I put into it.

Work smarter, not harder.

[Guest redditlovers]

After a great hardworking, to earn some good income

[misscrystal]

I finally raised my starting prices from $5 to $45 and it was a great decision. I have fewer orders, more income, more time for personal things, and the issues I had with some $5 orders are gone. I suggest that if you’ve been on fiverr a while and seen some success you experiment with higher prices. And even if you are newer, you can try modest price increases to see what happens.

[capri2794]

I am glad that it has worked for everybody else here too. Surely, knowing your worth and working smartly lead to success, apart from a few other things.